- The Indian stock market ended lower, snapping a 5-day winning streak, as retail inflation rose to 9.84% in September above estimates. Rate sensitive stocks declined the most on expectations that rising inflation will prevent further interest rate cuts by the central bank. - Key company results were mixed, with Reliance Industries reporting a marginal rise in quarterly profit while HDFC Bank's profit grew 27% although its NPAs increased. - Most global markets rose on hopes of a deal to raise the US debt ceiling, but the Indian markets declined due to disappointing domestic economic data points and higher inflation.

1. Markets snap 5-day winning streak; Rate sensitives top laggards
Market Summary
15-Oct-2013
Tailing encouraging global cues, Indian indices edged higher at open with Sensex above 20700. Sentiments turned
cynical on CPI hitting a near double digit mark to 9.84% in September. Choppy benchmarks settled in red zone with
Nifty at 6090.
Among global peers, US markets edged higher on hopes of reaching agreement to raise the debt ceiling. Asian and
European indices also inched up in green.
Back home, following disappointing IIP and WPI digits, CPI too reversed its two months easing trend in September.
Retail inflation surged to 9.84% in September as against 9.52% in August. The provisional CPI numbers for rural,
urban and combined were at 137.8, 134.0 and 136.2 respectively. Rate sensitives faced the brunt of investors wrath
and topped the laggards as rising inflation may prevent RBI from taking any favorable action on interest rate front.
(Read More)
Another disappointing news on macro front came from a survey conducted by CII. As per the survey, Indian economic
growth is likely to remain below 5% in the current fiscal. The survey based on the assessment of CEOs among which
42% of the respondents expected the economy to grow in the range of 4.5 to 5% and 65% respondents expect that
economic growth recovery will not take place before the second quarter of next fiscal. (Read More)
Government is likely to relax foreign direct investment (FDI) guidelines soon for the housing sector with a view to
attract more foreign investments and providing houses at affordable prices. The Department of Industrial Policy &
Promotion (DIPP) circulated a draft note to cabinet for approval. LIC Housing Finance, Indiabulls Housing Finance and
HDFC Ltd plunged 3%, 4.5% and 0.8% on BSE. (Read More)
BGR Energy Systems gained 1.8% on BSE on entering into pact with the Ministry of Electricity (MoE), Iraq, for gas
based power project worth $246 million. (Read More)
Key Quarterly Results
Reliance Industries (RIL) ended 0.41% down on BSE on reporting a marginal rise of 1.50% in Q2 Net at Rs 5490
crore as compared to Rs 5409 crore for the same quarter in the previous year. Company's income from operations
crossed "one lac crore" which made it the first private company and second Indian company of total quarterly income
above one lac crore. (Result)
HDFC Bank plunged 2.35% on BSE as bank’s gross non-performing assets (NPAs) rose to 1.1% in Q2FY14 as
against 0.9% in Q2FY13. However, the bank reported 27% in Q2 Net at Rs 1982.32 crore as compared to Rs 1559.98
crore for the same quarter in the previous year. (Featured Result)
Bajaj Corp tanked 6% on BSE on posting 6.2% decline in Q2 Net at Rs 36 crore as against Rs 38.4 crore in the
corresponding quarter of the previous year. (Read More)
CMC Ltd surged 3.15% on BSE on posting 36.25% rise in Q2 consolidated Net at Rs 67.31 crore as compared to Rs
49.40 crore for the same quarter in the previous year. However, on standalone basis, the company has posted a fall of
26.54% in Q2 Net profit at Rs 47.76 crore as compared to Rs 64.75 crore Q2FY13. (Result)
Bajaj Finance has reported 29.77% rise in Q2 Net at Rs 167.04 crore as compared to Rs 128.72 crore for the same
quarter in the previous year. The stock closed 2.17% down on BSE. (Result)
T h e market breadth on the BSE closed in negative. Advancing and declining stocks were 1018 and 1472
respectively, while 155 scrips remained unmoved.
The S&P BSE Sensex ended at 20547.62, down 59.92 points or 0.29%. The 30 share index touched a high and a
low of 20759.58 and 20446.73 respectively. 13 stocks advanced against 17 declining ones on the benchmark index.
The CNX Nifty lost 23.65 points or 0.39% to settle at 6089.05. The index touched high and low of 6156.30 and
6056.55 respectively. 18 stocks advanced against 32 declining ones on the index.
S&P BSE Sensex
CNX Nifty
The S&P BSE Mid-cap index moved down to 5829.99 and lost 1.30% while S&P BSE Small-cap index hammered

2. The S&P BSE Mid-cap index moved down to 5829.99 and lost 1.30% while S&P BSE Small-cap index hammered
down by 0.95% to 5693.21.
The broader S&P BSE 500 index decreased to 7399.62 (down 0.58%) and CNX 500 index declined to 4639.50 (down
0.57%).
The volatility as denoted by INDIA VIX gained 1.71% at 23.24 from its previous close of 22.85 on Monday.
Sectors in action
On the BSE Sectorial front, Metals (up 0.91%), Information Technology (up 0.61%) and FMCG (up 0.17%) were the
top gainers.
Banks (down 2.59%), Real Estate (down 1.60%) and Consumer Durables (down 1.20%) were the top losers.
The Angels and the Devils
Tata Steel Ltd (up 2.82%), Bharti Airtel Ltd (up 1.92%), Wipro Ltd (up 1.90%), Hindalco Industries Ltd (up 1.45%) and
Hindustan Unilever Ltd (up 0.83%) were the top gainers on the Sensex.
Hero MotoCorp Ltd (down 2.44%), HDFC Bank (down 2.37%), State Bank of India (down 2.09%), Tata Power
Company Ltd (down 2.04%) and ICICI Bank (down 1.98%) were the top losers on the Sensex.
Benchmark Drivers
HDFC Bank (-35.97 points), ICICI Bank (-27.13 points), Infosys Ltd (14.40 points), State Bank of India (-12.69 points)
and Housing Development Finance Corporation Ltd (-11.45 points) were the major Sensex drivers today.
On the other end HDFC Bank (-8.64 points), ICICI Bank (-7.83 points), Infosys Ltd (4.46 points), State Bank of India (3.18 points) and Axis Bank (-2.53 points) were the major Nifty movers today.
Pivot, Supports and Resistance Levels
CNX Nifty is now pivoted at 6101 for next session. The next support is at 6045 and on upside it has a resistance at
6145 levels.
CNX Nifty
Eff. Date
17-Oct-2013
15-Oct-2013
14-Oct-2013
S3
5945
6048
5998
S2
6001
6065
6022
S1
6045
6089
6059
PIVOT
6101
6107
6083
R1
6145
6130
6120
R2
6200
6148
6145
R3
6244
6171
6182
Actual Close
6089.05
6112.70
S&P BSE Sensex has a pivot at 20585 with first level of support and resistance at 20410 and 20723 respectively.
S&P BSE Sensex
Eff. Date
17-Oct-2013
15-Oct-2013
14-Oct-2013
S3
20097
20374
20220
S2
20272
20436
20294
S1
20410
20522
20411
PIVOT
20585
20584
20485
R1
20723
20670
20603
R2
20897
20732
20677
R3
21035
20818
20794
Actual Close
20547.62
20607.54

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